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Seeking to boost its revenue generation, the cash-strapped North Delhi Municipal Corporation (NDMC) is pondering renting out its school buildings to various coaching institutes and bank ATM kiosks to achieve financial stability.

The corporation is looking at the possibility of generating revenue of nearly Rs 300 crore from the project.

While the administrative decision has already been taken, a three-member committee is chalking out a strategy to see the financial aspects of the project.

The NDMC has identified 765 schools where ATM kiosks could be set up

NDMC mayor Ravinder Gupta said: “We have formed a three-member committee that will draft cost estimates of the project by this week. The project is expected to materialise before August 15. We have identified 765 schools where ATM kiosks could be set up. On an average, we will receive rent up to Rs 25,000 to Rs 30,000 from each ATM kiosk. With ATM machines on the school premises, the school will also have a guard round-the-clock that would protect the school from the anti-social elements to deface school property.”

Besides, the rent for running different educational activities on school premises will depend on the location of the school as well as its size.

“Of these schools, nearly 389 schools are day schools. So, the premises is empty during the evening. We are planning to rent out those premises to various coaching institutes from which we expect to generate good revenue. No investment will incur from the pocket of the corporation,” Gupta said.

While the NDMC is trying its best for the optimum utilisation of its resources, it would take time for the civic agency to generate revenue.

The civic agency has reportedly not paid the pension to nearly one lakh senior citizens for the past one year.